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Come early and bring your patience. That’s the word on the 88th annual Chincoteague Pony Swim. Every July, on the last Wednesday of the month, the small island of Chincoteague sees its population of 3,500 people swell to more than 40,000, as visitors from all over the country — and as far away as Canada and Europe — flock to the island off Virginia’s coast, to witness an event of epic pony proportions: more than 120 wild ponies swimming across the Assateague Channel, between Chincoteague and Assateague islands.

The actual swim takes all of 5 to 10 minutes. And it’s worth every minute of waiting to see the oldest continuous wild pony roundup east of the Colorado River.

“This is an event of historical proportions,” says Denise Bowden, spokesperson for the Chincoteague Volunteer Fire Company, which owns the ponies, often called the Chincoteague herd, on the Virginia side of Assateague Island.

Historical … or historic … one thing’s clear: This is the biggest event on Chincoteague Island’s annual calendar.

Chincoteague Island’s fire department has held the event nearly every year since 1924, culminating in the Salt Water Cowboys — about 145 cowboys from Virginia and neighboring states including Maryland and North Carolina — rounding up the feral fellas and females for a parade down Main Street, to the carnival grounds, where an auction of the ponies takes place Thursday morning. (Some ponies are bought under “buy back” terms; the bidder donates the money to the fire department and allows the pony to be released back onto Assateague Island.)

Now the patience part: Chincoteague Island will be packed. And while the pony swim will be held sometime between 10 a.m. and 12 p.m., crowds will start gathering well in advance. “Come early,” says Bowden. It’s not uncommon, she adds, for visitors to gather at the heart of the action — the Pony Swim Lane and Memorial Park — as early as 5 or 6 a.m.

The long wait time — plus the actual event’s start time, dependent on inclement weather conditions — spells greater exposure to the elements — lots of sun, maybe rain. “Make yourself as comfortable as possible,” says Bowden. Bring your sunscreen, hat and umbrella. Plus, a pair of old tennis shoes (no flip-flops or high-heels) — you’ll need them while standing in the marshy, muddy field. But the pay-off will be something to behold: Just beyond a fence, a herd of wild ponies — only 20 to 30 feet away.